January 12, 2023 03:35 GMT
Richer, TY Through Yesterdays High
As noted previously, Tsys have reversed the early cheapening.
- A rally in ACGBs has extended, providing a second round of spill over bids for Tsys. There hasn't been a clear headline catalyst for the richening.
- Cash Tsys have bull flattened, currently dealing 1.5-4.0bp richer across the major benchmarks.
- TYH3 deals at 114-20+, +0-06+, having broken through yesterday's high, a touch off the top of its 0-10+ range.